The Sensory Organ Drugs market in Iraq has been steadily growing in recent years due to various factors.
Customer preferences: Iraq has a large population that suffers from different sensory organ diseases such as glaucoma, cataracts, and hearing loss. As a result, there is a high demand for sensory organ drugs in the country. Furthermore, the rising awareness of the importance of early detection and treatment of sensory organ diseases has led to an increase in demand for these drugs.
Trends in the market: The Sensory Organ Drugs market in Iraq is witnessing a shift towards generic drugs due to their affordability compared to branded drugs. The government has been actively promoting the use of generic drugs by implementing policies that encourage their use. Additionally, there has been an increase in the number of local manufacturers of generic sensory organ drugs, which has further driven the trend towards generic drugs.
Local special circumstances: The political instability in Iraq has had a significant impact on the Sensory Organ Drugs market. The country has been facing various challenges such as terrorism, corruption, and economic instability, which have affected the healthcare sector. The lack of investment in the healthcare sector has resulted in a shortage of medical supplies, including sensory organ drugs. This has led to an increase in the price of these drugs, making them less accessible to the general population.
Underlying macroeconomic factors: The Sensory Organ Drugs market in Iraq is heavily influenced by the country's macroeconomic factors. The country's economy heavily relies on oil exports, which have been affected by the fluctuations in oil prices in the global market. Furthermore, the ongoing political instability in the country has resulted in a lack of foreign investment, which has affected the healthcare sector. The lack of investment in the healthcare sector has led to a shortage of medical supplies, including sensory organ drugs, affecting the market's growth. In conclusion, the Sensory Organ Drugs market in Iraq has been growing due to the high demand for these drugs. However, the market is facing various challenges such as the shift towards generic drugs, political instability, and the lack of investment in the healthcare sector. These challenges are affecting the market's growth and will require collaborative efforts from the government and private sector to overcome them.
Data coverage:
Data encompasses B2B, B2G, and B2C spend. Figures are based on drug revenues allocated to the country where the money is spent. Monetary values are given at manufacturer price level excluding VAT.Modeling approach / Market size:
Market sizes are determined by a top-down approach, based on a specific rationale for each market. As a basis for evaluating markets, we use financial information of the key players by market. Next, we use relevant key market indicators and data from country-specific associations, such as industry associations. This data helps us estimate the market size for each country individually.Forecasts:
In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the particular market. For example, forecasts are based on historical developments, current trends, and key market indicators, using advanced statistical methods. The main driver is healthcare expenditure. Expiring patents and new drugs in the pipeline are also considered.Additional notes:
Data is modeled in US$ using current exchange rates. The market is updated twice per year in case market dynamics change. The impact of the COVID-19 pandemic is considered at a country-specific level. This market comprises prescription drugs and all OTC drugs covered in the Statista OTC Pharmaceuticals market. However, in the OTC Pharmaceuticals market, revenues are based on end-consumer prices.
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